New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-12-08

twenty dollars and less romjuiy l. 1856 to November
l, 1887, SHOWS net increase OF about TIO2VuUVUU
tls nearly whole of the increased Circulation
i'm the form of shall money. The increase III tie total
circulation was caused by ordinary d nd Inv
increasing deposits In national bank dcpos'IoI1s ,ne
the government met the peoples request for 1t so ar az
il could Blu; for the lack of sufficient appIoprll,ip
FOR the Bureau of Engraving and Printing the crGnla,
ton Of currency particularly in he form OF sv er
certificates, woud have been much greatsf ~ mas as ~
impossible to more rapidly supply The de'a"hu io' "'
After doducting the gold and silver coln held for te
the Government owned $50. sos lcsS gold coin ana
iSs7 than it did on July l. 1856 during the ncrvcn-
ing period S43,3s6.S7l standard silver ""arS WIRE
As there is stu so much couei gold owned by ths
Government ss2G37 $50 November Is1 ., IL IL mas Ss
form of bullion until there Is need OF Soid com ,. =,
The statements OF the Treasurer show that aiie dc
Quoting the demand ana trust liabilities of the Govern,
nent ard the amount Of money on deposit IN naIoai
bank repositories tine money il the Treasury vaults
was S92 400 10 30 ON Jane 80 1856 OCTOBER 81 100 -
1t was S49.459.36l ~
STANDARD SILVER DOLLARS
Ono q, the most interesting facts shown by the fore
going statements Is the decrease in the number "i stand
orl silver dollars owned b, the Government and tao IN
creased MS: OF the money by the people IN the form
of silver certificates The five, two, ana one dollar
certificates furnish convenient currency and 1t il ev
dent that the future use OF tho silver dollar VIII he
almost exclusively in that form
II is waste to coin and store any silver dollars At
present There il no function which those that are
Coined after TIL. time Will probably ever perform except
lie III Government vaults and I've basis npon when
silver certificates he issued II is seldom that any
one wishes to his silver certificate exchanged Tor
the silver dollar itself consequently limited number OF
certificates The $2i4,OoO,0oO which are now in the
Treasury will more than suffice to redeem as ;iS may
be presented from time 10 time the sve ccrIica,cs
all the dollars wlho Will he coined Tor years L"
come under the present law. ,
The law should he amended as 70 authorize The sec
Rotary of the Treasury Ia Issue ccrtihcitt against ,c
coining value of the pulfOn bought ana 10 coin ohIy
such number of dollars % he might deem etpedieht
hereafter This would restrict IN tue least degree
the OF the silver dollar rs currency Ihe certificates
would be equally secure whe,T m so rP y1p
in vaults and which could he coined into dollars luc
bullion should be melted ini1 me form o. very Az
form the silver could he easily ana qnl'ky moved ana
More than a dozen mcu were occupied for several
weeks last summer when the late Treasurer turned over
TIE cfs To ' the Tsni At washington SAFETY economy
ana convenience would he proroted If this rccoonda-
lion were adopted.
SAFEGUARDS FOR SILVER MONEY.
1t would he neglect of duty aid no, call the "i'cii
ton of the Congress TO certain safeguards whch Ought
10 be thrown about the standard silver dollar to protect
from possible loss he people among whom 1t and It's
representative the certificate is so universally dsirh
uIod. , :, ono
may tnt form of mCuey than II required LOT
ia hns!nes of tie country iirs symptom OF this
will he increasing ownership or SILVER Wy me Govern
nent ihs increase Will take place because the Govern,
mcit paws to people that KIND OF currency which
they wish 10 have and receives ron n' tS nnT
viii acsnsulate the form OF money which u e pIb!c
lea, desires II the Government hrid no iuhos save
those needed it, daily expenses IL would perform no
different function toward currency when IL hai once
coined or printed it than does AN individual who re
ceivcs and pays money; int the two great trust
that FOR the redemption OF United aates noe,
(+IOJO0OOOOD and that for tue redeinp loh OF h"ld
bank notes. at present more than slOo.oOo'Co" ana
whatever surplus there may e rom 1he 10 !a H., r
1t were, reservoir when taxes ana hois wa. I'm
OF currency which the people REJECT We're II nor oi ,Lis
great Government reservoir redundancy oi any ioih
OF currency would be shown either by H. potoh 20
countries where IL needed or by Us drir'l itl"h
silver Of which il is made is worth less than - cents.
aud that would he its value for expectation
II into about S2sooooooo, Of which It has as, lmt IN
circulation among or lrope 'oht r-3D man q.
,rc an apparent profit thereby OF over S3'otOWv;
has always kept those dollar, ana their certificates aS
valuable as tho, were wien II paid them ont 10y ieccv
them but time \ has
Obliged TO receive item in greater amounts iLih ,ne
case IN 1854, 1885 ana s1G when they accumulated
that end of Juy, l--G. there were sD9'957o OF
in the Treasury reservoir watch held the
silver dollars that the people did not want @ nus prs
vented those which they ana want, ana s., Hs
(S1i600o0o0). IRON going to dscoin,, or o ,
when the GoveihIch originally p.lu n,i " ~, ~
its Treasury The foregoing tables show a, dhIEg the
sixteen lnOnths ended November l. 1881, us Depart
able 20 pay ont IA; par an, Keep IL clfclNio
Slb4Gi.9D1 OF the coined silver dollars ana
addition to the amounts OF each in circulation jay !,
lssG'If the Department hal been able To PRINT enough
silver would have been in the form oi certificates ana
that few, If any, coined dollars would nave Den pu
been returned ana cert ifaes tapeu in their place
There sIOuld always be ia the Treasury enough SILVER
beside that held against outstanding certificates TO On
able the Government TO al once supply any demand TOT
in excess OF that Is absolutely useless FOR any
purpose, is ia fact menace 10 the silver whch ING
people hold ami also t. the United states hDtes anu
national bank notes TO tho whole circulating medium
except gold therefore would be the part OF wisdom 10
ureyeut any accumulation OF silver ia the Treasury be
You'd sufficient reserve needed to meet any demand
the amount OF such reserve ana provluns maj WnG ~
is exceeded by say S5oOoOO ths purchase OF uudiol
ry-ia .,.,s. sueh Another plan ard somewhat
similar stO that Recommended by my predeccssoi ia MS
last annual report would be 10 provide thtt "hcn o
reserve was exceeded All amount of United states notes
equal ~ valueLt To- such excess should be cancceG
tic prchas Sc of bullion to crr-a ntf the maximum re
servo should be reached This woun crerr. yscnum
SILVER. The amount OF United States notes would ee
gradually reduced mti the whole were ehtinguished;
silver dollars silver certificates would fako the pace
az United states notes ne they were retired This plan
would make currency more uniform aud AS secure as
Neither of these plaus il adopted, would diminish the
actual potential OF silver currency By dollar.
in my Judgment 1; would be promoted thereby.
Our people will consent that the money which 10
when the Government paii It to them, it be IN the
power or the Government TO make IL good
The trade dollars have been practically redeemed In
gold under aet OF Congress- although they were held By
bat few Prsoas were iatrnscsly worth more than the
s'aisFd dollar sai hal tr less equitable claim forre
nehuti'n than wouli the standard dollar evor the
,iar 9" ' when the st.nisTi dollar goes 70 d.coant
vac p"s ~ the pockets or almost every Que OF whom
VIII he i"un1 more OF less Of those dollars will emphat
snail he redeemed III xod or
naSr "a goal as hen iss Jed and that the purchase 81
silver iiiloh stop II the plan above gssted
hrY n opiei, they would probably 10 q dis
cynt surely not except under altogether extraordinary
circumstance; and get the public would have supply
OF Il d!tsi only by the need detnsnd OF the
pef,pe Them | recommend that law to tho above
eject lc enacted.
NATIONAL BANKS.
Daring the year ling October 81 1887 there have
ben 22J banks orsauized-capita. $3J, 546.C00;
(, Ttasiston, ~ G30,37j.
Gtirts-tiro banks have boon closed during the
p-ljoI shca twenty have gone into voluntary
Il a laon and caht have failed These thirty thTee
ba's M aFsregae capital of 81, 0S7 400, and their